"I am pleased to share that approximately one week after closing our acquisition of Thermon, the initial integration phase is on track and delivering immediate benefits," said Todd Gleason, Chairman and Chief Executive Officer of CECO. "Week one activities were positively received by employees, channel partners, customers and investors. I met with hundreds of legacy Thermon employees, and it was great to welcome them to CECO. Our detailed integration program ensured we experienced no operating challenges and we have already begun to capture cost and growth synergies. Overall, we remain very confident in our ability to generate $40 million, or more, in cost synergies."

Full Year 2026 Combined Company Outlook

The Company updated its full year 2026 guidance to reflect an initial outlook for the combined company. The transaction closed on June 1, 2026, and guidance reflects seven months (June through December) of contribution from Thermon.

The Company expects full year revenue to be between $1.275 billion and $1.375 billion, up approximately 20 percent at the midpoint of the range, year over year. The Company expects Adjusted EBITDA to be between $195 and $225 million, up approximately 25 percent at the midpoint of the range, year over year. Outlook for full year Free Cash Flow is to generate at least 55 percent of Adjusted EBITDA.

"Our full year outlook reflects the impact we expect from adding Thermon to the balance of the year. We continue to see incredibly strong orders and market opportunities – especially in power generation, data centers, semiconductors and continued industrial reshoring projects. In fact, already in early June the legacy CECO businesses have booked orders greatly exceeding previous records, and we have several more weeks to add more bookings and backlog. These strong market conditions, coupled with the expected cost synergies – which are already on-or-ahead of schedule – gives me a lot of confidence that the initial full year outlook as a combined company has opportunities for overperformance," concluded Gleason.

INVESTORS CONFERENCE CALL

CECO will host a 30-minute conference call and webcast on Tuesday, June 9, at 8:30 a.m. ET to discuss the combination and an update on integration and synergy matters. Participants may access the webcast, including an associated presentation, on the Investor Relations section of the CECO website.

The details for the webcast are:

When:  Tuesday, June 9 at 8:30 a.m. Eastern Time

Where:  https://edge.media-server.com/mmc/p/7hamwqdo

How:  Live over the internet – Simply log on to the web at the address above

Register to receive the dial-in info and a unique pin:

https://register-conf.media-server.com/register/BI874fc78c2e7546b18ca549d61d56ff4d